Newmont reports higher Q1 output from Batu Hijau mine
Friday, April 25 2014 - 02:47 AM WIB
US gold and copper giant Newmont Mining Corp said that attributable gold and copper production at its Batu Hijau mine in Sumbawa, West Nusa Tenggara Province, Indonesia, during the first quarter of this year increased 14 percent and 11 percent, respectively, from the prior year quarter due to higher ore grade and recovery for both gold and copper.
However, the company was unable to export approximately 2 thousand attributable ounces of gold and 2.5 thousand attributable tons of copper as a result of new export regulations imposed in January 2014 by the Indonesian government, Newmont said in a statement obtained Friday.
Costs applicable to sales (CAS) increased 29 percent per ounce of gold and 46 percent per pound of copper, due to the planned stockpile inventory adjustments and lower ounces and pounds sold, the statement said.
Gold all-in sustaining costs (AISC) in Indonesia was US$2,167 per ounce, an increase of 8 percent over the prior year quarter and copper AISC was $4.63 per pound, an increase of 25 percent over the prior year quarter, due to lower ounces and pounds sold.
| Summary Production Table (Attributable production, Koz and kt) | |||
| Batu Hijau | Q1 2014 | Q1 2013 | Change |
| Gold | 8 | 7 | 14% |
| Cooper | 10 | 9 | 11% |
|
Summary CAS Table (Consolidated $/oz and $/lb) |
|||
| Batu Hijau | Q1 2014 | Q1 2013 | Change |
| Gold | $1,283 | $993 | 29% |
| Cooper | $2.99 | $2.05 | 46% |
Summary All-in Sustaining Costs Table (Consolidated $/oz and $/lb) |
|||
| Batu Hijau | Q1 2014 | Q1 2013 | Change |
| Gold | $2,167 | $2,000 | 8% |
| Cooper | $4.63 | $3.70 | 25% |
Editing by Reiner Simanjuntak